Only in operation since 2009, YouTradeFX is one of the newer brokers around helping traders deal in currencies via the Foreign Exchange Market. Located in London, Youtrade Holdings Limited and YouTrade Capital Markets PTY LTD is a reputable company regulated in Mauritius, Australia, the UK, and is licensed to operate in numerous countries. In only three years, YouTradeFX has made quite a name for itself in the Forex marketplace.
YouTradeFX is offering traders four different account types: The Demo account, a Standard account, a Premium account, and an ECN account. Each account has both its positives and negatives, so find out more about them below.
- Demo Account: The Demo account is available free to everyone who registers with YouTradeFX. It operates exactly like a real account, and to ensure that new users get a feel for the platform (whichever platform you decide to use), you can play around with $50,000 in fake money and still receive advice from the YouTrade experts.
- Standard Account: Any account comes with a free Demo, but on top of that, the Standard account offers low fixed spreads, a contract available from 0.1 lots, leverage of 1:300, and access to multiple features from the broker like professional help and analysis. It takes between $2,000 and $10,000 to open this account.
- Premium Account: Starting at $10,000 and capping at $100,000, the Premium account gives traders everything they need for live account trading, including a lot of special features and access to VIP materials from the broker. With 1:200 leverage and fixed spreads as low as 2, this is certainly a high-roller account.
- ECN Account: Initialism for Electronic Communication Network, the ECN account on YouTradeFX is one of the broker’s most popular. With customizable features, it takes $1,000 o rmore to open this account, and users receive maximum leverage here of 1:300.
Unique Selling Points
- $100 free signup bonus
- 50% deposit bonus on larger accounts
- Multiple platforms available, including mobile trading options
- Extending past currency trading and dealing in commodities, stocks and CFDs
- No slippage feature guaranteed
- Customized account available
- Social network and phone trading available
Pros and Cons
- Streamlined interface for easy use
- News feeds and charting package available
- Good trading signals
- Instant execution
- No requotes
- Multiple account types available
- Mobile alerts given
- Automated trading
- One-click trading
- Many trading options available besides currency pairs
- Multiple bonuses available
- US clients welcome
- No guaranteed stop loss
- No interest on margin
- Support closed 1 day a week
- Daily signals update only available on live accounts over $5000
- Not the best teaching structure for new traders
YouTradeFX seems to offer traders a lot more options than some of the competition out there. Not only do you have more account types to choose from, even a customizable ECN account, but you can also select from the MT4, MT5, iPhone, WedTrader, Mobile Trader, ZuluTrade and other platforms. The goal, of course, is to make traders comfortable and to grant them full access to the best tools available.
There are also good bonuses offered on the site and multiple rewards given out. Overall, YouTradeFX appears to be a solid broker for a trader of any expertise level. Requiring only $100 to start, it’s beginner-friendly, and with high-roller account options, big-time traders can also feel right at home.